Tredje AP fonden increased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,942 shares of the coffee company’s stock after purchasing an additional 540 shares during the period. Tredje AP fonden’s holdings in Starbucks Corporation were worth $7,694,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Haverford Trust Co. acquired a new stake in Starbucks Corporation in the 1st quarter valued at approximately $49,787,000. Haverford Financial Services Inc. acquired a new stake in Starbucks Corporation in the 1st quarter valued at approximately $2,977,000. Balasa Dinverno & Foltz LLC raised its position in Starbucks Corporation by 4.6% in the 1st quarter. Balasa Dinverno & Foltz LLC now owns 10,444 shares of the coffee company’s stock valued at $610,000 after buying an additional 455 shares during the last quarter. Montecito Bank & Trust raised its position in Starbucks Corporation by 13.0% in the 1st quarter. Montecito Bank & Trust now owns 4,341 shares of the coffee company’s stock valued at $254,000 after buying an additional 500 shares during the last quarter. Finally, Allegis Investment Advisors LLC raised its position in Starbucks Corporation by 52.1% in the 1st quarter. Allegis Investment Advisors LLC now owns 38,622 shares of the coffee company’s stock valued at $2,255,000 after buying an additional 13,225 shares during the last quarter. Institutional investors and hedge funds own 72.01% of the company’s stock.
In other news, insider John Culver sold 64,776 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the completion of the transaction, the insider now owns 390,341 shares of the company’s stock, valued at approximately $20,898,857.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Javier G. Teruel sold 62,966 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total value of $3,627,471.26. The disclosure for this sale can be found here. Insiders have sold a total of 150,708 shares of company stock valued at $8,322,192 in the last three months. 3.40% of the stock is owned by insiders.
A number of equities research analysts recently issued reports on SBUX shares. Cowen and Company reissued an “outperform” rating and issued a $66.00 target price on shares of Starbucks Corporation in a research report on Friday, July 21st. Nomura lowered their price target on Starbucks Corporation from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Mizuho reaffirmed a “buy” rating and set a $75.00 price target on shares of Starbucks Corporation in a research report on Friday, September 29th. Credit Suisse Group reaffirmed a “buy” rating on shares of Starbucks Corporation in a research report on Monday, November 6th. Finally, Zacks Investment Research raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Twelve analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Starbucks Corporation has an average rating of “Buy” and a consensus target price of $63.31.
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Shares of Starbucks Corporation (NASDAQ SBUX) opened at $57.04 on Monday. The firm has a market capitalization of $81,658.46, a price-to-earnings ratio of 27.56, a PEG ratio of 1.56 and a beta of 0.72. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. Starbucks Corporation has a 1 year low of $52.58 and a 1 year high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The company’s revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.56 EPS. sell-side analysts anticipate that Starbucks Corporation will post 2.31 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.10%. This is a boost from Starbucks Corporation’s previous quarterly dividend of $0.25. Starbucks Corporation’s payout ratio is 50.76%.
Starbucks Corporation Company Profile
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
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